Cardano, Binance Coin, The Sandbox Price Analysis: 17 de diciembre

When Bitcoin entered the $ 46,000 mark, corresponding effects were seen across most altcoins as they struggled to counter the bearish force. As a result, Cardano, Binance Coin, and Sandbox traded in the red zone for the last day.

Cardano (ADA)

Source: TradingView, ADA / USDT

While most cryptocurrencies enjoyed an Uptober, ADA has lost nearly 60% of its value since its ATH on September 2. After a 13.05% collapse from the rising wedge, price action plunged sharply to touch the $ 1.19 mark on December 11.

Although the alt formed a descending triangle (yellow), the bulls retested the $ 1.26 mark (20-week resistance) four times before initiating a breakout. This impulse came along with the Cardano (Hydra) Layer 2 Embedding Solution Development News.

However, at press time, ADA was trading at $ 1,227 after noticing a 5.49% loss in 24 hours. Now, price action found immediate test support at the $ 1.2 mark.

The RSI it exhibited a bearish tilt and seemed to head south. In addition, the DMI Y MACD it implied a seller’s market, but showed a weak directional trend. The recent bearish movement pushed the price above the 20-50-200 SENIOR HIGH SCHOOL.

Moneda de Binance (BNB)

Source: TradingView, BNB / USDT

BNB formed a descending (white) channel after a breakout of the ascending channel on December 9. As a result, the alt experienced a 13.57% loss in eight days.

With this drop, the bears pushed the price below its immediate resistance at the $ 532 mark. Over the past day, the BNB bulls struggled to test the previous level twice, but failed to break it. Now the lowest EMA tape (dark yellow) stood as an immediate obstacle to the conquest of alt.

At press time, BNB was trading at $ 531. The RSI felt resistance near the midline for the past eight days. Considering the general market sentiment, the bulls may have a difficult time unleashing a sustained rally above the $ 569 mark. Additionally, the DMI The lines showed a bearish bias while the ADX showed a weak directional trend.

The sandbox (ARENA)

SANDUSDT 2021 12 17 19 46 25

TradingView, ARENA / USDT

Since his ATH on November 25, the alt has steadily decreased. The bears retested the $ 6.03 mark twice before another recession. In recent days, it has moved in a descending channel (yellow) and appeared to find support at the gold 61.8%. Fibonacci level.

At press time, the alt was trading at $ 4.8251 after noticing a 7.7% loss in 24 hours. The RSI it sank below the midline and showed signs of weakening.

In addition, the DMI showed a bearish bias. But the ADX showed a weak directional trend. Regardless of downtrends, the OBV it did not seem to suggest a sharp decrease in buying pressure.

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Cardano, Binance Coin, The Sandbox Price Analysis: 17 de diciembre

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